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What District of Columbia residents need to know about Inheritance Law

Inheritance Law > What You Need to Know About Inheritance Law In Your State > District of Columbia

What the District of Columbia Residents Need to Know About Inheritance Law

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Welcome to the fastest and easiest way to find out about Inheritance Law in the District of Columbia. If someone you love has recently died, and you've been named as a beneficiary in a Will or a trust, or if you are an heir of someone who died without a Will or a trust, or if you've been named as an executor of a Will or trustee of a living trust, you can use this site to find out what you'll need to do to inherit or settle an estate or trust.

Here, you'll find clear and accurate information about how to inherit property, including:

Here are three things to keep in mind before you get started:

1. Many estates can avoid probate altogether, either because they're small enough to fall under a state's small estates limit, because the assets were held in a living trust, or because the assets will go to named beneficiaries because they are held as joint tenancy accounts, or in retirement or life insurance.

2. You have to pay creditors and taxes before you can inherit assets. You always have to pay taxes before any other creditors can get paid. Debts that are secured by property, like mortages, are called secured debts, because if someone doesn't pay the loan, the lender can take the property. If you inherit a house, you also inherit the mortgage. Unsecured debts, like credit cards, don't work that way -- as a beneficiary you are not responsible for that debt, but the estate needs to pay all known creditors before distributing property to beneficiaries and heirs. Otherwise, a creditor can come calling to get paid back from estate assets, even after they've been distributed.

3. Most estates do not need to file an estate tax return. Unless an estate is worth more than $5 million dollars (plus an additional amount indexed to inflation each year, currently $11,400,000, it will not need to file an estate tax return.


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